Aston Lark acquires Wright Insurance Brokers
Goldman Sachs-backed Aston Lark has acquired Irish commercial broker Wright Insurance Brokers.
European businesses brace for challenging 2020: CNA Hardy
Business leaders based in Europe have identified cyber, regulatory compliance and economic risks as the top three concerns for 2020, with almost three quarters surveyed by CNA Hardy predicting a moderate to high risk trading environment in the new year.
Markerstudy and QIC agree loan restructure terms
Markerstudy has announced it is “business as usual” as the motor intermediary and parent Qatar Insurance Company agree repayment terms on a loan that rating agency S&P raised concerns over earlier this week.
Cooper Gay France acquires TMK Europe
Cooper Gay France (CGF), the only Ed Broking arm to retain its predecessor brand, has agreed to acquire Tokio Marine Kiln Europe, TMK’s Belgium-headquartered service company.
London carriers set to swerve Eur1bn Dresden art robbery loss
The London fine art and specie market looks set to dodge material losses emanating from the robbery of one of Europe’s largest collections of art in the German city of Dresden today (25 November), The Insurer understands.
SureStone Ireland enters run-off
Irish property and casualty insurer SureStone Insurance DAC has entered into run-off, The Insurer can reveal.
Müller to succeed Fischer Hirs as AGCS CEO
Allianz Global Corporate & Specialty (AGCS) has named Joachim Müller as CEO, succeeding Chris Fischer Hirs who is to step down from the top job on 30 November 2019.
Analysts bullish on Zurich as firm takes aim at rivals with new 2022 targets
Equity analysts have praised Zurich over its new 2022 earnings targets as the European insurer takes aim at its continental rivals.
BoE encourages legal advice as ACPR pushes back on EIOPA Brexit recommendation
The Bank of England has advised the UK insurance sector to “seek legal advice” ahead of the UK’s exit from the EU after the French regulator rejected the European regulator’s recommendation on insuring UK policyholders living in France.
Lloyd’s sets sights on European business after Brexit: Neal
The chief executive of Lloyd’s has set out plans to target more business on the continent following the UK’s departure from the European Union.
Talanx Q3 profit soars as turnaround programme gathers pace
Talanx Group – which includes HDI Specialty and Hannover Re – has delivered a third quarter operating profit of Eur619mn ($682mn), up from the Eur259mn it reported in the third quarter of 2018.
Allianz sees P&C third quarter operating profit fall by 10%
Operating profit in Allianz’s property casualty insurance business segment fell by some 10 percent during the third quarter of 2019 to Eur1.3bn ($1.44bn) as improvements in the expense ratio and the accident year loss ratio were offset by a lower contribution from run-off.
Compre buys second AG Insurance legacy portfolio
Run-off insurer Compre has agreed to purchase an inwards reinsurance portfolio from Belgian AG Insurance SA.
Beazley extends online specialty platform to Germany
Blue chip insurer Beazley has launched its electronic trading platform – myBeazley – in Germany, allowing brokers to place management liability (ML), professional indemnity (PI) and cyber risks with the carrier.
Aon to redomicile parent company to Ireland from UK
Broking giant Aon is to move the jurisdiction of the firm’s parent company from the United Kingdom to Ireland in order to remain in the European Union following Brexit.
Axa off-loads Belgium banking operation; enters distribution partnership with Crelan Bank
French insurance giant Axa is to sell its Belgian banking operations, Axa Bank Belgium, to Crelan Bank (Crelan) for Eur620mn ($688mn) in a deal that will result in an insurance distribution partnership between the two firms.
Hastings warns of FY loss ratio deterioration as Q3 claims inflation bites
UK general insurer Hastings has posted a loss ratio of 79.1 percent in its Q3 trading update, after an uptick in claims inflation that looks set to drive the carrier’s full year loss ratio higher as conditions persist.
Dual Asset enters legal indemnity partnership with Aviva
Dual Asset, the legal indemnity underwriter and part of Hyperion-owned Dual, has entered a long-term partnership with UK insurance giant Aviva, for their UK legal indemnity insurance business.
European reinsurance rates to rise at 1.1: Munich Re, Hannover Re
Lower-for-longer interest rates, renewed underwriting discipline and a need for carriers to generate a positive return for investors will drive upward rate momentum at the upcoming January renewals, according to Munich Re.
CCR Re’s Montador on weathering the European geopolitical storm
In a European economic environment characterized by lower for longer interest rates, geopolitical tensions and a restructuring reinsurance market, The Insurer speaks to Laurent Montador, deputy CEO of CCR Re, to discuss how the open market reinsurance arm of state-backed CCR is positioning itself to meet the challengechallenge.